Some time ago I understood that the real price for anything is not the one we pay when buying the actual thing. Real price is the price for the “usage” of an item during a unit of time.

It is convenient to use per day price as a measure of this. For instance if you buy an iPhone for 600 euros and use it for 500 days your per-day-price would be 1,2 €. So to use your iPhone every day you pay 1,2 euros.

Consequently the longer you use the item, the cheaper it is. I used my old phone (Sony Ericsson K600) for 5,5 years. The resulting price of using it was around only 8 cents a day. When you start thinking in terms of a per-day-price, you would undoubtedly find many interesting examples in your life.

With such arithmetic in mind, it is easy to evaluate what is worth paying more for and what is not. Like 1000-euro wedding rings over 40 years of use will result in a tiny 5 cent daily price, but a cheap Chinese tablet breaking in a couple of months would cost much more.